jan dhan: Over 500 million open accounts under Jan Dhan Scheme

2023-08-26 15:03:04

More than 500 million Indians have opened accounts under the government’s flagship financial inclusion scheme – the Pradhan Mantri Jan Dhan Yojana (PMJDY) – since its inception nine years ago, accounting for Rs 2.03 lakh crore in deposits till August 18, 2023.

“PMJDY has proved to be a catalyst for one of the biggest financial inclusion programmes for the country, with 66.8% of accounts opened in rural and semi-urban, and 33.2% accounts opened in urban communities under the scheme,” said a finance ministry official.

As per the finance ministry data, 55.5% of PMJDY account holders are women, marking a pivotal move towards bridging the financial equality gap. Under PMJDY, 339.8 million Rupay cards have been issued, which come with a pre-loaded accident insurance cover of Rs 2 lakh.

“The average deposit in each PMJDY account has reached `4,069, and more than 5.5 crore of these are receiving direct benefit transfer (DBT),” said the official cited earlier, adding that this stands as a testament to transformative financial empowerment and that with Jandhan-Adhar-Mobile (JAM Trinity), DBT is being directly credited to bank accounts, providing transparency, non-corruption and promoting digital payments through debit card.

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